Meeting compliance processing deadlines, monitoring, transaction security, verification of accounting movements... These are all factors to take into account when managing a marketplace, , not to mention the organisational complexity of companies open to the international market, which have to apply local rules and practices in terms of payment transactions. What can you do to avoid feeling overwhelmed and losing out on profitability? Opt for a single PSP, accessible from anywhere at any time, with features tailored to your needs! Here are 5 essential back-office features to help you choose the ideal PSP.
1. Efficient, centralised management of payment accounts
Without sellers, there's no marketplace. To attract and keep them on your marketplace, it's best to make it easy for them to join. How do you do this? Choosing a PSP that allows you to create and manage seller accounts quickly and securely. With Lemonway, you can complete payment accounts instantaneously, streamline the collection process and automate the payment of your marketplace commission. It's a way of making life easier for your sellers, regardless of the country they’re in, through a seamless payment experience while offering simplified business management.
2. A comprehensive activity monitoring dashboard
This is as true for B2B marketplaces as it is for businesses in general: having an overview of all your activity in real time is essential. To do this, choose a PSP with a back office that lets you view payment details, amounts, dates, payment statuses (pending, successful, failed, refunded, etc.) and other relevant information! As well as tracking transactions in detail, your PSP must also be a tool capable of evaluating your marketplace's performance via several indicators. Reports on revenues, commissions, transaction costs, payment trends... The back office provides all data to help you make informed decisions about developing your marketplace.
3. Effective fraud prevention thanks to automated KYC
When it comes to managing payments, security is a major concern. It is, therefore, essential to opt for a back-office that includes fraud detection and prevention functions. Checking IP addresses, monitoring patterns of suspicious behaviour, implementing additional security measures... Make sure your PSP offers a smooth KYC (Know Your Customer) procedure based on OCR (Optical Character Recognition) technology or opt for an instant KYC capable of reading all the documents provided in seconds and checking their compliance. Why should you do this? Because it helps to improve your conversion rate by enabling your customers to validate their bank account and pay for their transactions in just a few clicks without having to leave your marketplace.